ALEXANDRIA, Va.-NCUA recently shut down operations for Potter’s House Federal Credit Union of Jacksonville, Fla. after finding the tiny credit union insolvent. The agency advised that Potter’s House member checks would be distributed within five business days and the deposits are insured up to $100,000. NCUA Financial Performance Reports indicate that the $233,093 Potter’s House, which had 1,500 members, showed the institution had more than $100,000 in delinquent loans and net charge-offs. Prior to the Potter’s House closing April 6, the agency announced the closing of $130,000 St. Charles Borromeo Church Federal Credit Union on April 4 and $68,000 St. John Baptist Federal Credit Union on March 31. NCUA Public Affairs Specialist Cherie Umbel said the string of closings was coincidental.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.